WNY Asset Management LLC Decreases Stock Holdings in The Boeing Company $BA

WNY Asset Management LLC decreased its holdings in The Boeing Company (NYSE:BA) by 10.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,127 shares of the aircraft producer’s stock after selling 360 shares during the quarter. WNY Asset Management LLC’s holdings in Boeing were worth $655,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new position in shares of Boeing in the 2nd quarter worth $25,000. Piscataqua Savings Bank grew its stake in shares of Boeing by 1,712.5% during the 2nd quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after purchasing an additional 137 shares during the period. Monetary Management Group Inc. grew its stake in shares of Boeing by 33.3% during the 1st quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock valued at $34,000 after purchasing an additional 50 shares during the period. IMG Wealth Management Inc. grew its stake in shares of Boeing by 159.4% during the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock valued at $38,000 after purchasing an additional 110 shares during the period. Finally, Keener Financial Planning LLC bought a new stake in shares of Boeing during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BA shares. Sanford C. Bernstein boosted their price target on Boeing from $249.00 to $282.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Jefferies Financial Group set a $255.00 price target on Boeing in a research note on Tuesday, September 30th. Citigroup restated a “buy” rating on shares of Boeing in a research note on Monday, July 28th. KGI Securities raised Boeing from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Boeing in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.32.

Boeing Stock Performance

NYSE:BA opened at $223.60 on Wednesday. The stock’s fifty day moving average is $221.46 and its 200 day moving average is $211.77. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $242.69. The firm has a market capitalization of $169.08 billion, a PE ratio of -13.54 and a beta of 1.47.

Boeing (NYSE:BA) last released its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. During the same quarter last year, the firm posted ($2.90) EPS. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. Equities analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

Insiders Place Their Bets

In other news, EVP David Christopher Raymond sold 3,771 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares in the company, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mortimer J. Buckley purchased 2,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $226.10 per share, for a total transaction of $497,420.00. Following the purchase, the director owned 2,200 shares of the company’s stock, valued at approximately $497,420. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.09% of the company’s stock.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.